Tetra Tech outperforms in first quarter of 2017
Global water technology company, Tetra Tech, has had a fantastic run over the past 12 months, with its stock price rising dramatically since early 2016. With 97% of scientists in agreement that climate change is real, and caused by humanity, the scene looks set for Tetra Tech to remain a highly relevant, and therefore successful, company. And last week, they posted first quarter earnings that seem to reiterate that view!
Tetra Tech’s share price rose by an incredible 70% in 2016
SOURCE: Yahoo Finance
Revenue over the past three months has risen a solid 19% from the same period in 2016, beating Wall Street’s consensus estimates. And the company has also managed a phenomenal increase in the backlog of orders it holds in its system: +34% from the year-ago quarter. Part of the secret to Tetra Tech’s excellent performance over the past year comes down to consistent improvements in its order backlog, which guarantees a considerable amount of work over coming weeks months and years.
Tetra Tech’s chairman and CEO, Dan Batrack, took the opportunity to comments on the results, saying:
“Tetra Tech started fiscal year 2017 with very strong results, exceeding our quarterly guidance for both net revenue and earnings. Services across our core markets of water, environment, and infrastructure remain in high demand, and the initial priorities established by the new Administration represent additional opportunities for Tetra Tech in all areas of U.S. infrastructure. Strong orders in our federal and state and local markets increased our backlog to a record $2.5 billion, providing a solid platform for growth as we enter the second quarter.”
Dominion holds Tetra Tech in its Global Trends Managed Fund.
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